Welcome to Battery Day. It looks like the "Sell the News" crowd arrived a day early with a couple of Elon Musk tweets late yesterday, essentially saying the new game changing battery won't be in full production until 2022. Does it merit a 5% sell-off? As we have seen in the entire run-up, If Elon sneezes the stock drops 5%, so what else is new? The chart below illustrates TSLA stock performance on the "old" batteries. Noted on the chart is the point where we went all-in on TSLA and its calls, beginning Dec, 2019. Catherine Wood, CEO of ARK Invest and who has been on top of TSLA even before I was, has a target of $1,400 by 2024 as the low end of her expectations. It won't be a straight line, which is our edge as traders. Day to day fluctuations, for any reason, are just noise. Eyes on the prize.
